With so much information and mis-information out there, I thought that I would take the time to explain the loan modification process in-depth. There are so many steps to getting approved for a loan modification and any misstep in the process can result in your package being denied.
Many financial experts and advisors cannot figure out why [...]
The general idea behind Loan Modifications as put forth by President Obama was noble and much needed however the implementation of the idea is riddled with holes, hurdles, and hazards.
Problem 1
The Making Homes Affordable Act and the Guidelines set forth by President Obama make obtaining a loan modification difficult for those borrowers who are/were the [...]
This is the second most common question I am asked every day (the first one being: Do I Need To Hire An Attorney To Do A Loan Modification?). A loan modification USUALLY takes between 60 and 90 days. Usually. The banks have been known to take less time and sometimes they take as much as 120 [...]
Not all lenders are participating the the Making Homes Affordable Act (MHA) and therefore not following the Federal Guidelines. Take a breath, this does NOT mean that you cannot modify! Almost every lender regardless of size has internal modification programs. Many of them mirror the federal guidelines, some in fact, are even easier to qualify for. However, [...]
There are so many scams out there. Loan modification companies are popping up everywhere. Everyone thinks they are an expert. Here is what I can tell you…not everyone is an expert. That is how the economy ended up the way it is now. Everyone tried to get into the Real Estate field and became a [...]
Today, there was an article on MSN called “Frustration Rises Over Mortgage Relief Program” and it exemplified all of the problems that homeowners are having getting loan modifications. There are many different loan modification programs and the confusion not only exists among homeowners, but it also exists at the banks. Depending on whether or not [...]
